Stricter Emission Norms and Incentive Programs Boost the Global Electric Bus Market
The total electric bus market, which comprises hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs), is projected to exceed 211,000 units by 2030 at a compound annual growth rate (CAGR) of 13.9%.
- The total electric bus market, which comprises hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs), is projected to exceed 211,000 units by 2030 at a compound annual growth rate (CAGR) of 13.9%.
- For further information on this analysis, Pro-green Government Policies and Incentives Power the Electric Bus Market, please visit: http://frost.ly/5u4
"The increasing need to reduce emissions, especially in highly populated cities, the modernization of bus fleets and attractive government incentive programs will drive the growth of electric buses in the intra-city passenger transport segment," said Saideep Sudhakar, Research Manager, Frost & Sullivan. - Latin America: The Zero Emission Bus Rapid-Deployment Accelerator (ZEBRA) project will increase the uptake of battery electric powertrains in the transit bus market as older diesel buses are replaced across various cities.
- The entry of utility and energy major companies into electric charging infrastructure will boost the growth of fueling infrastructure for electric vehicles.